Standard Chartered signs Newark lease

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Standard Chartered Bank has officially signed off on a 45,000-square-foot lease in downtown Newark, mostly for American Express Bank, which it recently acquired. As The Real Deal reported on Friday, the London-based bank planned to relocate up to 300 workers to Two Gateway Center from American Express Bank’s offices at the World Financial Center and from its Americas headquarters at One Madison Avenue. Newark beat out Utica, N.Y., Jersey City and Princeton, N.J., for the re-location. CB Richard Ellis represented Gateway Center, which was asking for $35 per square foot for the space. Standard Chartered will receive annual cash grants from New Jersey for creating jobs, as well as sales tax exemptions on build-out costs. Newark officials say they are in talks with at least three or four other companies about relocating, including New York City firms.

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